Chapter 5 Flashcards
It is a continuous process of assessing and establishing goals and objectives and implementing and evaluating and controlling them. This is subject to change as new facts are known.
Planning
It is deciding in advance what to do, how to do it, and who is to do it.
Planning
Looking into the future and decide in advance where the agency would like to be and what is to be done in order to get there.
Forecasting
It outlines the orgabizations future role and function. It gives the agency something to strive for.
Vision
A pre-establish and often self-imposed objectives or purpose.
Mission
It is the statement of beliefs and values that directs ones practice. It gives direction towards attainment of a certain goal.
Goal
Desired aims or condition towards which one is willinf to work
Goal
Statement of a desired short term condition or achievement, with measurable end result to be accomplish by specific terms or individual with time limit.
Objectives
Allocating of one’s time through setting goals, assigning priorities, identifying and eliminating wasted time and using managerial technique to reach hoals effectively.
Time management
Thinking of oyher options
Planning of contingencies
Calendar of activities
List of tasks
Lookinf at the task done and not done
Inventory
Prioritizing
Sequencing
Do not procrastinate
setting and keeping deadlines
Give a portion of the task to those who can do it
Delegating
When several tasks are done in less time
Multitasking
Budgeting is a systematic financial translation of a plan. A tool for planning, monitoring, and controlling cost and meeting expenses.
Prepare budget and allocation of resources
Allocates resources for nursing program and deluvery of patient care
Nursing budget
Designed to meet future service expectation for client, provide patient care at minimum cost
Hospital budget
A plan for future activities revenue budget, expense budget, capital budget, and cash budget
Budget plan
The income the management expects to generate during the planning period
Revenue budget
Expected activity in operational financial terms in a given period of time
Expense budget
Program acquisition, disposal and improvements in the institutions physical capacity
Capital budget
Monet recieved, cash receipt and disbursement during the planning period
Cash budget
Portrays a company’s expenses, expected cost and estimated income, considering the quarterly or the annual performance
Operating budget
Esrimation of cash flows of a business over a specific period of time. This could be for a weekly, monthly, quarterly, or annual budget. Is the actual operating bedget in detail.
Cash budget
Most budgets for nursing personnel are based on quantitative workload measurements such as a patient acuity system.
Personnel budget
Equipment is classified as long term asset and usually refers to items that will last and be used longer than a year.
Supplies and equipment budget
A budget allocwting money for the acquisition or maintenance of fuxed assets such as land buildings and equipment
Capital budget
Preparation of a budget forces the organuzation to plan for the future
Planning
The budget serves an important role in monitoring the use of resources and in measuring a manager’s performance as it relates to the effectiveness of the planning process.
Monitoring and motivation
Another purpose of a budget is to serve as a coordination and communication vehicle within an organization
Communication
It is a systematic plan that is an informed best estimate by nurse administrators of revenues and nursing expenses.
Nursing budget
Are not related to volume. They remain constant as volume increases and decreases over a period of time
Fixed costs
Are production costs that change in proportion to the amount of goods that are produced
Variable cost
Are fixed expenses that cannot be recovered even if a program is cancelled
Sunk costs
Are the costs of providing the product or serviceas personnel costs and the variable cost of supplies
Direct costs
Are expenses that cannot be traced back to a single cost object or cost source during the manufacturing process
Indirect cost
Standing plans used repeatedly, or guides or basic rules that govern action at all levels in the organization
Policies
Specific guide to action
Procedures
Minimal level of achievement acceptable to meet the set objectives
Standards
